scorecardWhat’s the deal with Yahoo changing its name to ‘Altaba’
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What’s the deal with Yahoo changing its name to ‘Altaba’

What’s the deal with Yahoo changing its name to ‘Altaba’
IndiaSmallbusiness1 min read
In a regulatory filing on Monday, Yahoo Inc. disclosed some of its plans for after its $4.8 billion sale with Verizon goes through. Once the sale closes, current CEO Marissa Mayer, chairman of the board Maynard Webb, Yahoo cofounder David Filo, and three other board members will resign from the board; and the Yahoo board "intends to cause the Company's name to be changed to Altaba Inc."

What's the deal with Altaba?

The assets using the name Yahoo –, for example, email, sports and finance content – will go under the Verizon umbrella once the $4.8 billion goes through. That implies the rest of the parts of business, which will be traded on an open market and are currently known as RemainCo, can no longer use the name Yahoo. This incorporates 15 percent of Chinese eCommerce company Alibaba and 35.5 percent of Yahoo Japan.

The name Altaba is quite like Alibaba, and is thought to be a blend of the words "alternative" and "Alibaba."

The filing, which relates just to that holding company, states: “In light of the fact that following the Closing the Company will operate as an investment company under the Investment Company Act of 1940, the Board has determined that, immediately following the Closing, the size of the Board will be reduced to five directors.”
The Verizon offer, made eight years after Yahoo turned down a $44 billion offer from Microsoft, Followed by a series of losses at the former internet goliath, partially because of big expenditures like its $1 billion acquisition of Tumblr.